When Connecticut issued bonds in June of 2018, the bond covenant said Connecticut would strictly adhere to its new $1.9 billion bonding cap until 2023 — with no changes to underlying statutes and no exceptions. However, language contradicts the legislature’s loosening of the bond cap in May of 2018, allowing ...
Marc E. Fitch
Connecticut ranked 49th in the country in a new analysis of state fiscal health by Truth in Accounting, due to its massive taxpayer burden of $53,400 per person and, once again, earned the organization’s label of a “sinkhole state.”
If nothing had changed, Connecticut would not be trapped in the situation it is now. But Connecticut also allows collective bargaining agreements to supersede state law, allowing subsequent SEBAC agreements to once again underfund state employee pensions.
Connecticut remained dead last in the nation for personal income growth since 2007 in the latest analysis by Pew Charitable Trusts.
The national AFL-CIO has tapped Working America, its political affiliate based in Washington D.C., to send canvassers to Connecticut for a “union member mobilization effort” and to talk with members about “the importance of the 2018 election cycle,” according to an email from AFSCME Council 4 Executive Director Jody Barr.